Telsey Advisory Group Maintains Outperform Rating for Target: Here's What You Need To Know

Telsey Advisory Group has decided to maintain its Outperform rating of Target TGT and lower its price target from $185.00 to $165.00.

Shares of Target are trading up 0.07% over the last 24 hours, at $131.01 per share.

A move to $165.00 would account for a 25.94% increase from the current share price.

About Target

With 1,948 stores (as of the end of fiscal 2022), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (27% of fiscal 2022 sales), food and beverage (21%), home furnishings and decor (18%), hardlines (16%), and apparel and accessories (16%). Most of Target's stores are large, averaging more than 125,000 square feet. The company has a significant e-commerce presence, deriving around 19% of sales from digital channels (up from about 9% in fiscal 2019, before the pandemic). In addition to its namesake stores, Target owns Shipt, an online same-day delivery platform. After it exited Canada in 2015, virtually all of Target's revenue is generated from the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.